The ISO 20022 standard will set a new standard of communication for all financial institutions worldwide. The 20022 standard will completely change the financial landscape and improve international money transfers. 

Cryptos that update their blockchains to comply with this new ISO standard will likely appreciate in price if they are chosen for payments by banks.

SWIFT to ISO 20022

SWIFT, the global messaging network that banks use to send funds internationally, will be entirely updated to ISO 20022 near the start of 2023.  Its original format will no longer be used at all by 2025.

So far, the only two compatible cryptos are Ripple’s XRP (XRP) and Stellar Lumens (XLM). It’s  rumored that cryptos like MIOTA (IOTA) , XinFin (XDC) and Algorand (ALGO) are also compliant.

We can se big Move in these coin as banks start to use these ISO standard .

In case of XRP, there is also rumour going on that SEC Vs Ripple case will end with a settlement.

Source: Phemex Dot Com

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